View Full Version : International Monetary Fund discusses European banks

09-03-2011, 10:34 AM
International Monetary Fund discusses European banks.
01/09/2011 PM - 3:25 PM | read times: 35


Discussed the Director-General of the International Monetary Fund Christine Lagarde put European banks in the first problem addressed by the head of the International Finance Corporation, at a meeting of its board of directors followed the controversy continued for several days.
And discussed the Board of Directors of the Fund, which includes representatives of 24 countries, including five from the euro zone, according to its formal agenda, the preliminary results of the economists on the economy and money in the world. A spokesman for the Fund, the William Murray told reporters that this body discussed on Wednesday "report on financial stability in the world," published by the fund every six months and is supposed to be released September 21 / September But he refused, as usual, revealed the substance of the discussions, in response to a question, told AFP.
However, contrary to the traditions of secrecy that dominates this Commission in Washington, leaked details of the meeting to the media.
The newspaper Financial Times on its website that the controversy in the International Monetary Fund launched by its director Christine Lagarde on the European banks rise on Wednesday in the headquarters of this institution. The British newspaper "The IMF staff raised a fierce debate with officials of the euro area by presenting the estimates reveal the massive damage caused to bond debt of countries in the region facing difficulties, the performance of the banks that own these bonds."
quoted "officials briefed" on the facts of a meeting of the Council management of the Fund in this regard, saying that "the Europeans refused," these estimates.
The Financial Times that according to accounts economist of the Fund, whether listed European banks in the reports on its performance, countries' bonds in the euro area market value, then their money in real decrease of about two hundred billion euros in Total, ie between ten and 12 percent.
These figures are paid to Lagarde to encourage the Europeans, in a press conference in Jackson Hole (Wyoming, West) to recapitalize banks on the continent and with public funds if necessary.
She said it "will be a key to stop the contagion "financial crisis.
and faced her remarks this sharp criticism in Europe, which stressed its leaders for the safety of major institutions.
said Francois Parwan, who took a bag of money in France to succeed her on Wednesday that "there is no any concerns or questions" about the banking system of France.
The governor of the Bank France, Christian Noyer expressed surprise at comments by Lagarde promised when it took office on the fifth of August / August not to represent the interests of a specific area.
but her position at the head of the fund requires that it take into account the interests of member states, this means that the rejection of the Europeans of the accounts of her office would force it to seek Adjustments minutes.
William Murray said in a statement "we will consider in discussions with the board" until the publication of the final report, explaining that "even then, is not appropriate to make any comments."
The "Report on financial stability in the world," which was published in April He believed that European banks are the weak link in the global financial system.
has recommended the re-capitalization weakened but did not give any figures. http://alforattv.net/index.php?show=news&action=article&id=58075